Tighter credit requirements, defaults and the Sino-US trade war are boosting the supply of nonperforming loans NPLs in China, which is attracting foreign investment.
“Every default, we get happy. Our business in Chinese NPLs is growing rapidly,” said Ronald Thompson, Asia managing director of international turnaround and investigation firm Alvarez Marsal.
At a press conference in Hong Kong on Wednesday, Thompson said that over the past year or so, his team has grown rapidly.
Year-to-date, 68 corporate bonds totalling Rmb46 billion $6.7 billion have defaulted in China, more than any previous year except 2018, according to Chinese financial data provider Wind....
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